Retail is a tough business, and even the biggest brands can face distressing times. In this episode, Oliver Banks is joined by retail expert Rhea Fox to uncover the essential lessons from struggling and failing retailers. Together, they explore the common challenges that distressed businesses face, the warning signs that often go unnoticed, and the root causes of financial difficulties. Whether you’re looking to spot risks early, turn around a struggling operation, or avoid these pitfalls altogether, this episode offers invaluable insights into navigating the complexities of retail in uncertain times.
Listen in to this episode to discover:
- Understand the shared challenges and root causes that lead retailers into distress.
- Spot the telltale traits of businesses that may not realize they’re in trouble.
- Consider whether what the future holds for smaller vs larger businesses.
Introducing Rhea Fox
Rhea Fox is a highly experienced digital and marketing director with extensive leadership history in international retailers and direct-to consumer brands, including eBay, Ted Baker, Paperchase, Monsoon Accessorize and Aviva.
She has led trading P&Ls ranging from £100m to over £1bn of revenue and overseen sizeable customer bases of 10m+ people. Rhea’s experience spans across sectors including retail, marketplaces and private equity in both PLCs and SMEs. She brings a strong track record of quickly building cohesive, enabled and high-performance teams and is a regular industry speaker on digital transformation and CX.
Connect with Rhea Fox on LinkedIn.
Additional episodes to listen to next
One sector of retail that seems to have had it’s fair share of distressed businesses is the department store sector. Listen to episode 286: The Department Store’s Predicament, with Neil Saunders from GlobalData, and hear what has challenged these businesses the most – and if there is still opportunity in the sector.
Often there are many shifts needed to correct a challenged business. Listen into episode 210: Making Marginal Gains To Drive Profit to consider if you could course correct, or if you need a more significant pivot.
If you’re not sure on what type of change will support your business, perhaps listening to episode 203: Fundamental And Incremental Transformation will help you decide what’s next.
